Yodlee, a financial institutions trust which powers online banking applications, has launched a new SMS banking capability for its Yodlee Mobile solution, offering greater accessibility for mobile banking and payments for US mobile SMS users.
Offered through trusted financial institutions, Yodlee Mobile extends the value of online banking and personal financial management (PFM) capabilities to the mobile channel. The mobile solution offers is designed specifically for the advantages, and limitations, of mobile devices and for the lifestyle of today’s mobile users. For example, Yodlee’s SMS alerts help consumers avoid overdraft fees by alerting them, in real-time, when their balance is close to falling into the red.
In addition, Yodlee Mobile gives consumers the flexibility of anywhere, any time access to their information, including checking balances and recent transactions, monitoring spending, and conducting emergency payments to avoid late fees, all via a mobile device. It also includes both a browser (WAP) capability and, now, a SMS capability, to meet the needs of the largest consumer segments.
It’s clear that mobile banking strategies need to incorporate at least two key elements: 1. ubiquity of access via multiple channels and 2. relevant, personal content that delivers what consumers really need when they’re on the go, said Peter Hazlehurst, SVP of product development at Yodlee. Yodlee is addressing both these needs with a wide distribution channel (users can access their content via a mobile web browser, SMS), and by leveraging our core strength: secure access to virtually all financial accounts in a simple mobile interface.